Product sheet | B3

Options on Cash Settled Live Cattle Futures

  • UnderlyingThe Live Cattle Futures Contract (Male steers with at least 16 net arrobas carcass weight and a maximum age of 42 months).
    TickerBGI
    Option styleAmerican.
    Contract size330 net arrobas.
    QuotationPremium quotation expressed in Brazilian Reals per net arroba to two decimal places.
    Tick sizeBRL0.01.
    Round-lot1 contract.
    Last trading dayThe business day preceding the expiration date.
    Expiration dateThe last business day of the contract month.
    Contract monthsAll months.
    Option exerciseOn the expiration date, the option exercise is performed automatically by BM&FBOVESPA, subject to the following conditions:
    Call option (call):
    a) If the result of the difference between the settlement price of the contract object and the exercise price for the principal owner, is positive; and
    b) the principal holder does not register on the trading system its intention not to exercise its call on the expiration date.
    Put option (put):
    a) If the result of the difference between the exercise price and the settlement price of the contract subject to the principal owner, is positive; and
    b) the principal holder does not register on the trading system its intention not to exercise its put on the expiration date.